Tax

Tax could be one of your biggest single costs. So it is not surprising that tax planning is one of the key aspects of formulating a financial plan. There is often a considerable amount that can be done to reduce the impact of taxation.

Investing tax-efficiently

The taxation of investments has never been a simple matter. In recent years it has become more complex as successive governments have chosen to tax different sources of investment income in different ways, mostly with the aim of adding to the Exchequer’s coffers.

Year end tax planning

The end of the tax year is an important time to review the possibilities for saving tax. It may be necessary to act well before the end of the tax year, or in some instances, defer action until the new tax year has started. In general, the strategy should be to make use of available allowances and reliefs, and to reduce any higher rate tax, as far as possible.

Levels and bases of, and reliefs from, taxation are subject to change and their value depends on individual circumstances.

The value of investments and income from them can go down as well as up, and you may not get back the original amount invested.

This publication is for general information only and is not intended to be advice to any specific person. You are recommended to seek competent professional advice before taking or refraining from taking any action on the basis of the contents of this publication. The Financial Conduct Authority (FCA) does not regulate tax advice, so it is outside the investment protection rules of the Financial Services and Markets Act and the Financial Services Compensation Scheme. This publication represents our understanding of law and HM Revenue & Customs practice as at 31 July 2018.

MerrixGrogan Chartered Financial Planners is a trading name of MerrixGrogan LLP. Registered in England and Wales No: OC350833.
MerrixGrogan LLP is a Limited Liability Partnership and is authorised and regulated by the Financial Conduct Authority No: 586056.
Calls may be monitored for security and training purposes

MerrixGrogan Chartered Financial Planners is a trading name of MerrixGrogan LLP. Registered in England and Wales No: OC350833.
MerrixGrogan LLP is a Limited Liability Partnership and is authorised and regulated by the Financial Conduct Authority No: 586056.
Calls may be monitored for security and training purposes